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Tuesday, 14 March 17
ORDERBOOK-TO-FEET RATIO DECREASING; THE FREIGHT MARKET IMPROVING
 It seems as though the renewed optimism that has arisen from the recent upward trends being noted in the freight market, the dry bulk market has been set alight, said Allied Shipping in its latest weekly report.
According to George Lazaridis Head of Market Research & Asset Valuations of Allied, there has been a growing bullish vibe being felt for several months now in this sector, generated by the successive decreases being seen in the orderbook-to-fleet ratio during the course of the past year and all indicators in the freight market pointing to an improved balance. He further noted that the order book to fleet ratio for the dry bulk segment as a whole has now dropped to 7.72%, the lowest figure we have seen in over two decades now. This plays an important role in dissipating concerns over the glut in tonnage supply that we have seen in the market, though this is only half the picture. During the course of 2016, many viewed the excessively low earnings being a directly caused by the excessive number of new buildings being delivered. Having witnessed both the drop in the order book and at the same time a considerable improvement in freight rates, one can easily make the presumption that the supply-demand balance in the market is improving and at a fairly good pace. During the course of 2017, freight rates have held at levels well above what we were seeing back in 2016 and even 2015, while the recent rally that boosted the Baltic Dry Index to above 1,000 points before the start of the grain season in the Atlantic, has only re-enforced the bullish views that have been held by many in this regard.
George Lazaridis further said, it is no surprise therefore that we have seen buyers quickly flocking back into the secondhand market with fears that they will “lose” the opportunities that are still present in the market. Despite the fact that prices have on average risen by around 50% since the low levels of March 2016, asset prices can still be considered to be fairly competitive compared to what we have seen historically since the late 90’s. As such and with earnings now providing the promise of better returns and positive cash flows for new purchases, you can see that there is excess possibility for further price gains to be noted over the coming months. What’s more is that during the time period where we faced some of the biggest difficulties in the freight market, newbuilding prices continued to hold at abnormally high levels compared to equivalent periods in the past. As such secondhand asset prices are at an even higher the normal discount against what it costs to construct a similar vessel. This leaves the conclusion that if earnings continue to stay at “good” levels it will be hard to see similarly low price levels in the future for similarly aged vessels.
All these conclusions are based on the assumption that we have reached a balance in the market and that demand will continue to grow at least at its current momentum, allowing for a continual improvement in the freight market, said George Lazaridis.
This is a fairly big if however, especially if you take a closer look at the volatility being noted in the commodity markets and the general uncertainty being played out in many of those economies that play a vital role in seaborne trade. Further shocks could derail this balance and bring another round of “pains”. Although this does need to be of concern, it seems that even if these negative scenarios play out their consequences to the market would be more minor and short-term then what similar events have caused in the recent past. As such one can’t blame those optimists out there and given the relatively lower risks that are in view, there are fair grounds to claim that opportunities are now much better than most that we have come by in the past 5 years.
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Friday, 24 February 17
US WEEKLY COAL OUTPUT ESTIMATED AT 16.8 MMST - EIA
COALspot.com – U.S., the world’s second largest coal producers have produced approximately totalled an estimated 16.8 million short ton ...
Thursday, 23 February 17
ULTRA SUPRAMAX: INDONESIA TO INDIA IS GETTING AROUND $10-11K BASIS SINGAPORE DELIVERY
Supramax
The week started off quietly in the Atlantic with more activity in the Pacific basin.
According to Fearnleys weekly report, frontha ...
Wednesday, 22 February 17
TANKER MARKET INSIGHT - KATERINA RESTIS
In 2016 a session of the IMO committee in London, set the new prerequisites effective from January 2020, which will necessitate global Sulphur cont ...
Tuesday, 21 February 17
INDIA'S JANUARY COAL IMPORTS DECLINE 21.7 PERCENT YEAR -ON-YEAR TO 14.31 MT - PTI
Coal imports declined by 21.7 per cent to 14.31 million tonnes in January as the power utilities did not lift much fuel due to abundant stock avail ...
Tuesday, 21 February 17
CHINESE EXPORTS SHOWED A YEAR-ON-YEAR RISE FOR THE FIRST TIME IN TEN MONTHS; S. KOREA'S EXPORTS UP FOR PAST THREE MONTHS IN A ROW - GEORGE LAZARIDIS
We have started to some sparks of life in the commodities markets these past weeks, with prices having shown a strong push during the past couple o ...
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Showing 2116 to 2120 news of total 6871 |
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- Bhushan Steel Limited - India
- Energy Development Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Larsen & Toubro Limited - India
- TeaM Sual Corporation - Philippines
- Tata Chemicals Ltd - India
- Indian Oil Corporation Limited
- Rio Tinto Coal - Australia
- Sojitz Corporation - Japan
- Thai Mozambique Logistica
- Coalindo Energy - Indonesia
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Commonwealth Bank - Australia
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- Ministry of Mines - Canada
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- Cement Manufacturers Association - India
- Kideco Jaya Agung - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Indonesian Coal Mining Association
- Indo Tambangraya Megah - Indonesia
- Pendopo Energi Batubara - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Chettinad Cement Corporation Ltd - India
- Merrill Lynch Commodities Europe
- London Commodity Brokers - England
- Indogreen Group - Indonesia
- Videocon Industries ltd - India
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- Singapore Mercantile Exchange
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bayan Resources Tbk. - Indonesia
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Metalloyd Limited - United Kingdom
- Antam Resourcindo - Indonesia
- The University of Queensland
- Siam City Cement - Thailand
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- Renaissance Capital - South Africa
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Tamil Nadu electricity Board
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Goldman Sachs - Singapore
- Standard Chartered Bank - UAE
- Wood Mackenzie - Singapore
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Agrawal Coal Company - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- TNB Fuel Sdn Bhd - Malaysia
- Independent Power Producers Association of India
- Maheswari Brothers Coal Limited - India
- Kobexindo Tractors - Indoneisa
- Vedanta Resources Plc - India
- Krishnapatnam Port Company Ltd. - India
- Global Green Power PLC Corporation, Philippines
- VISA Power Limited - India
- Bangladesh Power Developement Board
- Minerals Council of Australia
- McConnell Dowell - Australia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- ICICI Bank Limited - India
- Trasteel International SA, Italy
- Intertek Mineral Services - Indonesia
- LBH Netherlands Bv - Netherlands
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Global Business Power Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Altura Mining Limited, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ceylon Electricity Board - Sri Lanka
- Central Java Power - Indonesia
- Sree Jayajothi Cements Limited - India
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- Dalmia Cement Bharat India
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Posco Energy - South Korea
- Meenaskhi Energy Private Limited - India
- MS Steel International - UAE
- Ambuja Cements Ltd - India
- Wilmar Investment Holdings
- Mercuria Energy - Indonesia
- Orica Australia Pty. Ltd.
- Kohat Cement Company Ltd. - Pakistan
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Transport, Egypt
- Parry Sugars Refinery, India
- Siam City Cement PLC, Thailand
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- Gujarat Electricity Regulatory Commission - India
- Medco Energi Mining Internasional
- Oldendorff Carriers - Singapore
- South Luzon Thermal Energy Corporation
- Interocean Group of Companies - India
- SN Aboitiz Power Inc, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Australian Commodity Traders Exchange
- Banpu Public Company Limited - Thailand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Anglo American - United Kingdom
- Toyota Tsusho Corporation, Japan
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Eastern Energy - Thailand
- European Bulk Services B.V. - Netherlands
- Electricity Generating Authority of Thailand
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Simpson Spence & Young - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- PowerSource Philippines DevCo
- Sindya Power Generating Company Private Ltd
- Eastern Coal Council - USA
- CNBM International Corporation - China
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Gujarat Sidhee Cement - India
- Bharathi Cement Corporation - India
- Billiton Holdings Pty Ltd - Australia
- CIMB Investment Bank - Malaysia
- Star Paper Mills Limited - India
- Semirara Mining Corp, Philippines
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Lanco Infratech Ltd - India
- Planning Commission, India
- Vizag Seaport Private Limited - India
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Electricity Authority, New Zealand
- Latin American Coal - Colombia
- Salva Resources Pvt Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Neyveli Lignite Corporation Ltd, - India
- Directorate Of Revenue Intelligence - India
- GMR Energy Limited - India
- Samtan Co., Ltd - South Korea
- Bhatia International Limited - India
- Binh Thuan Hamico - Vietnam
- San Jose City I Power Corp, Philippines
- Petrochimia International Co. Ltd.- Taiwan
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